Blackstone has agreed to acquire Desotec, a European environmental services company, from EQT. No financial terms were disclosed.
LONDON–(BUSINESS WIRE)–Blackstone (NYSE: BX) announced today that private equity funds managed by Blackstone have agreed to acquire DESOTEC (the “Company”), a leading European environmental service company, from EQT. This investment aligns to Blackstone’s core private equity strategy which is designed to hold investments in high-quality, market-leading companies for longer periods than traditional private equity.
Based in Roeselare, Belgium, DESOTEC’s mission is to help protect the planet through innovative circular filtration solutions, enabling clean water, air, and soil. The Company was founded in 1990 and is focusing on mobile purification solutions mainly based on activated carbon technology.
DESOTEC’s fleet of approximately 2,700 mobile filters is the largest of its kind in Europe and it serves a broad range of industrial applications, including air emission, biogas, remediation, wastewater, and chemicals. The Company’s mobile filters enable its customers to comply with environmental regulations and sustainability requirements, through its closed-loop, “Filtration-as-a-Service” rental solution.
Jürgen Pinker, Senior Managing Director at Blackstone, said: “We are proud to invest in an innovative, mission-driven environmental leader like DESOTEC. The company is a perfect fit for our core private equity strategy, which seeks to identify exceptionally high-quality businesses with strong tailwinds at their backs and support them for the long term. As the focus on environmental responsibility continues to increase globally, we believe DESOTEC is poised for significant further growth and look forward to partnering with DESOTEC’s management team in the years ahead.”
Mario Hertegonne, CEO of DESOTEC, said: “Today’s investment marks the beginning of a new chapter for DESOTEC as we continue our mission to better protect the planet. Together with Blackstone, we plan to accelerate our pan-European growth strategy and further expand our leading market position. We are excited about partnering with Blackstone to the benefit of our customers, employees and all stakeholders involved.”
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $619 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone